8 1999 3 199812 () 19919 19919 19981 7,854 5,335 3.0% 257 239
(1) (B) (2) 1991 1992 1993 1994 1995 JP US$ 134.71 126.65 111.20 102.21 94.06 BUS$ 025.47 025.39 025.35 025.00 025.14 CPI 105.7 110.0 113.7 119.5 126.4 1996 1997 JP US$ 108.78 120.99 BUS$ 025.49 040.66 CPI 133.8 141.3 (3)101930 (4)1Kw = 1,000W 1MW = 1,000KW 1kWh = 1kW1hr(1) 1MWh = 1,000kWh 1GWh = 1,000MWh 1kVA 1MVA = 1,000kVA (5) EGAT : Electricity Generating Authority of Thailand MEA : Metropolitan Electricity Authority PEA : Provincial Electricity Authority EGCO : Electricity Generating Co. EGAT COCO : Cogeneration Co. Ltd. EGAT IPP : Independent Power Producer SPP : Small Power Producer PDP : Power Development Plan NEPC : National Energy Policy Council NEPO : National Energy Policy Office NESDB : National Economic Social Development Board AAM : Automatic Adjustment Mechanism TLFS : Thailand Load Forecast Subcommittee BOI : Board of Investment 240
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1980 1987 13%88 15%89 15% EGAT 1986 52.3% 1990 14.4%EGAT 1520% EGAT EGAT 19882001 2001 1,479 kw 76,172GWh 175MW 171MW 8 5km 3 I-1 2235 8 175MW 171MW OECF Portion 1 242
1984 12 F/S EGAT 1985 11 F/S 1990 11 16 1991 1 2 OECF 7 16 9 9 1992 12 1996 4 243
I-1 1. 175MW 195MVA 171MW 2235 4MW 2. 12m200m 287,000m 3 3,842cms 10.5m 7m 10 3. 244
II-1 Portion 1 8 5 1 1 3 5 2 1 7 II-1 7,974 OECF 7,854 3,664 691 EGAT 5,429 OECF 5,335 32% 5,129 1,193 40%10,558 11,638 9.3% EGAT OECF Portion 1 Portion1 EGAT EGAT ( ) EGATEGAT EGAT 1969 3 245
3 EGAT II-2 1998 9 EGAT 18,176MW 107,442GWh 1998 97 10 98 9 14,180MW 92,134GWh II-2 23,000km 180 EGAT 38,000MVA EGAT MEAPEA 2 2 EGAT 98% EGAT EGAT II-3 200 1 & 2 EGAT EGAT EGAT EGAT TOR Portion 1: Portion 2: Portion 1OECF EGAT F/S (OECF Portion 2 Portion 1 ) EGAT 246
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II-1 OECF OECF OECF 01. 0 0 311 0 0 300 0 0 11 02. 0 0 80 0 0 91 0 0 11 03. 1,000 1,000 818 1,192 1,192 2,087 192 192 1,269 04. 5,053 5,053 620 3,837 3,837 636 1,216 1,216 16 (1) 295 295 74 323 323 136 28 28 62 (2) 4,520 4,520 502 3,294 3,294 473 1,226 1,226 29 (3) 238 238 44 220 220 27 18 18 17 05. 526 418 120 399 306 185 127 112 65 (1) Portion 1 ( 108 0 49 93 0 0 15 0 49 ) (2) portion 2 ( 418 418 71 306 306 185 112 112 114 ) 06. EGAT 0 0 630 0 0 808 0 0 178 07. 0 0 329 0 0 326 0 0 3 08. 670 669 432 09. 725 714 333 10. 697 7,974 7,854 3,664 5,429 5,335 5,129 2,545 2,519 1,465 1 =5.3 1 =4.3 248
II-2EGAT TOTAL EGAT GENERATION REQUIREMENT (Moderate Economic Recovery Case) PEAk Generation Energy Generation Load Fiscal Increase Increase Factor Year MW GWh MW % GWh % % Actual 1987 4,733.90 553.00 13.23 28,193.16 3,413.63 13.78 67.99 1988 5,444.00 710.10 15.00 31,996.94 3,803.78 13.49 67.09 1989 6,232.70 788.70 14.49 36,457.09 4,460.15 13.94 66.77 1990 7,093.70 861.00 13.81 43,188.79 6,731.70 18.46 69.50 1991 8,045.00 951.30 13.41 49,225.03 6,036.24 13.98 69.85 1992 8,876.90 831.90 10.34 56,006.44 6,781.41 13.78 72.02 1993 9,730.00 853.10 9.61 62,179.73 6,173.29 11.02 72.95 1994 10,708.80 978.80 10.06 69,651.14 7,471.41 12.02 74.25 1995 12,267.90 1,559.10 14.56 78,880.37 9,229.23 13.25 73.40 1996 13,310.90 1,043.00 8.50 85,924.13 7,043.76 8.93 73.69 1997 14,506.30 1,195.40 8.98 92,724.66 6,800.53 7.91 72.97 1998 14,179.90-326.40-2.25 92,134.44-590.22-0.64 74.17 Average Growth 1988~1998-858.73 10.49-5,812.84 11.37 - Forecast 1999 14,499.00 319.10 2.25 93,178.00 1,043.56 1.13 73.36 2000 15,254.00 755.00 5.21 97,858.00 4,680.00 5.02 73.23 2001 16,214.00 960.00 6.29 103,685.00 5,827.00 5.95 73.00 2002 17,308.00 1,094.00 6.75 110,436.00 6,751.00 6.51 72.84 2003 18,399.00 1,091.00 6.30 117,341.00 6,905.00 6.25 72.80 2004 19,611.00 1,212.00 6.59 124,532.00 7,191.00 6.13 72.49 2005 20,818.00 1,207.00 6.15 132,228.00 7,696.00 6.18 72.51 2006 22,168.00 1,350.00 6.48 141,300.00 9,072.00 6.86 72.76 2007 23,728.00 1,560.00 7.04 151,322.00 10,022.00 7.09 72.80 2008 25,450.00 1,722.00 7.26 162,438.00 11,116.00 7.35 72.86 2009 27,232.00 1,782.00 7.00 173,532.00 11,094.00 6.83 72.74 2010 28,912.00 1,680.00 6.17 184,213.00 10,681.00 6.16 72.73 2011 30,587.00 1,675.00 5.79 194,930.00 10,717.00 5.82 72.75 Average Growth 1982~1986-318.44 10.06-1,763.91 9.20-1987~1991-772.82 13.99-4,889.10 14.71-1992~1996-1,053.18 10.60-7,339.82 11.79-1997~2001-680.62 4.02-3,552.17 3.83-2002~2006-1,190.80 6.46-7,523.00 6.39-2007~2011-1,683.80 6.65-10,726.00 6.65 - Thailand Load Forecast Subcommittee September 1998 249
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(8 ) 17 EGAT 1998 11 641 108 102 181 132 III-1 44 3 24 (8 ) 1996 4 III-2 1997 12 1 A 120MW B (8 ) III-1 III-18 1 MWh hr MWh hr 1996 163.525 1,063.1 369.997 2,613.0 1997 207.881 1,327.8 434.142 3,160.0 1998 ( 2) 85.992 544.9 200.972 1,595.6 1 10 9 2 98 1998 97 620mm 25 98 3 230m (8 ) 4 254
EGAT 102 (Store Section 20 2040% Minor Inspection (MI)Major Overhaul (MO) Preventive Maintenance (PM) 3 PMCorrective Maintenance 8 8 98 4 EGAT EGAT EGAT 1997 5 III-2 97 EGAT rate of return on re-valued assets8%self-financing ratio 25%AAM AAM EGAT 255
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III-2EGAT ELECTRICITY GENERATING AUTHORITY OF THAILAND FIVE YEAR SUMMARY For the years ended September 30: 1997 Baht 1996 Baht 1995 Baht 1994 Baht 1993 Baht Assets: Current assets 38,407 48,280 30,337 17,310 16,277 Fixed assets Net 249,698 220,685 216,869 209,288 189,839 Sinking funds 8,376 6,804 5,948 5,389 4,917 Other assets (Note 1) 19,579 20,207 16,150 13,110 9,692 Total assets 316,060 295,976 269,304 245,097 220,725 Liabilities and equity Liabilities: Current liabilities (Note 2) 52,924 45,419 35,929 34,007 24,046 Long-term debt (Note 3) 153,310 126,731 131,326 126,125 117,237 Sinking funds 8,376 6,804 5,948 5,389 4,917 Other liabilities 404 198 173 179 199 215,014 179,152 173,376 165,700 146,399 Equity: Capital: Contribution from the Government 10,708 10,755 10,817 10,876 10,935 Surplus from contributions 2,797 2,614 2,476 2,247 2,043 Retained earnings: Capital expenditure appropriation 95,718 75,659 75,659 75,410 71,201 Unappropriated 15,876 33,177 16,546 5,538 4,271 Deferred foreign exchange adjustment (24,053) (5,381) (9,570) (14,674) (14,124) Total equity 101,046 116,824 95,928 79,397 74,326 Total liabilities and equity 316,060 295,976 269,304 245,097 220,725 kwh kwh kwh kwh kwh Electricity generated and purchased 92,725 85,920 78,880 69,651 62,180 Electricity sales 85,896 79,451 72,780 63,643 56,558 Notes: 1. Includes investment in associated company 2. Includes current portion of long-term debts 3. Excludes current portion of long-term debts 258
III-2 For the years ended September 30: 1997 Baht 1996 Baht 1995 Baht 1994 Baht 1993 Baht Electricity sales (Note 4) 125,376 108,835 95,247 76,190 67,798 Operating expenses (Note 5) 105,716 80,745 72,717 58,400 51,072 Net income before interest charges 21,420 35,396 25,854 18,455 17,391 Interest charges 8,592 8,303 6,894 6,422 6,048 Net income 12,828 27,093 18,960 12,033 11,343 Remittance to Ministry of Finance (paid) 8,449 6,387 4,099 4,637 2,468 Loan repayment (Note 6) 18,018 9,509 11,157 8,119 8,853 Capital expenditure (Note 7) 34,083 28,433 30,592 27,596 31,786 Net incomeas a percentage of sales 10.23% 24.89% 19.91% 15.79% 16.73% Net income before interest chargeds as a percentage of sales 17.08% 32.52% 27.14% 24.22% 25.65% Net incomeas percentage of equity (Note 8) 10.25% 22.17% 17.97% 12.79% 12.82% Net income before interest chargesd as a percentage of equity (Note 8) 17.12% 29.03% 24.51% 19.62% 19.66% Net incomeas a percentage of total assets 4.06% 9.15% 7.04% 4.91% 5.14% Net income before interest charges as a percentage of total assets 6.78% 11.96% 9.60% 7.53% 7.88% Operating ratio 84.32% 74.19% 76.35% 76.65% 75.33% Current ratio (Note 9) 0.73:1 1.10:1 0.88:1 0.59:1 0.68:1 Debt equity ratio 1.23:1 1.04:1 1.24:1 1.34:1 1.33:1 Debt service coverage 1.05 1.91 1.64 1.53 1.40 Self financing ratio - Annual 14.29% 61.53% 36.52% 35.85% 31.89% - 3 years average 13.91% 50.10% 31.03% 27.33% 32.60% Notes: 4. After deducting promotion of exports, industrial estate discount and natural disaster discount 5. Includes losses/(gains) from foreign exchange 6. Excludes loan refinancing and roll over 7. Excludes mine development expenditures 8. Includes deferred foreign exchange adjustment 9. Excludes current portion of loan repayments to be paid out of sinking fund 259
FIRR FIRR 13% 50 FIRR 11.6% 13.0% 1997 10 15,000m 2 21 EGAT 240 260
EGAT 3 1 1997 11 17 2 1998 3 10 3 1998 9 17 5 2 7 3 1m510m1520m 261
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